Business | Oil & Gas
Private equity firm inks $8b Libya deal
London-based private equity firm Klesch said yesterday it had signed an $8 billion deal to build a 300,000 barrels per day refinery and a 725,000 tonne per year aluminium smelter in Libya.
- Reuters
- Published: 00:53 February 20, 2008
London : London-based private equity firm Klesch said yesterday it had signed an $8 billion deal to build a 300,000 barrels per day refinery and a 725,000 tonne per year aluminium smelter in Libya.
The complex is to be built by 2011, Klesch and Co. Ltd. said in a statement.
Head of the company A. Gary Klesch sad he could not disclose where the complex would be built, but the Libyan government would make an announcement "in due course".
"We are into a lot of different commodities and we already own a smelter," Klesch said.
"This fits in with our business plans."
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